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MOM’s Facts and Figures

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According to the Employment Situation in 2013, Ministry of Manpower (MOM) said that the unemployment rate of Singapore remained low and the income growth fortified. The report was released on January 29, 2014. The report also revealed that the local employment rose rapidly while there was a moderation of foreign workers because of the government’s tightening measures.

If you are curious of the facts and figures, it would help you to read the following things:

Overall unemployment rates: The overall unemployment rate for December 2013 remained low (1.8%). As for the citizen’s unemployment rate for December 2013 remained unaffected (2.8%).

Resident unemployment rate: The resident unemployment rate slightly rose to 2.7% in December 2013 from 2.6% in September 2013. The slight increase of 0.1% is a big difference.

Overall annual average & citizen unemployment rates: As for the overall annual average and citizen unemployment rates, it declined to 1.9% & 2.9%. The resident rate remained unaffected at 2.8%.

Employment growth: The employment growth in the 4th quarter of 2013 rose to 39200. In the previous quarter, it was 33100. But this was lower compared to the 4th quarter of 2012.

Total employment: For the entire year of 2013, the total employment increased to 134900. This is higher compared to 129100 in 2012. The high employment growth was determined by locals.

Laid off: In the 4th quarter of 2013, there were about 3500 workers who were laid off. This was higher compared to the previous quarter. For the entire year, there were 11400 workers who were laid off.

Income growth: It was mentioned earlier that the income growth was fortified despite of constricted labour market in 2013. The minimal monthly income for full time employees rose to S$3,480 in June2013.

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